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Computer Sciences Discusses Seeking Bid

March 03, 1998|Associated Press

Computer Sciences Corp. said it would consider a merger with another company to help fend off a $9.2-billion hostile takeover attempt by Computer Associates International Inc. Computer Sciences stock climbed more than 3% on the news, rising $3.25 a share to close at $107.94 on the New York Stock Exchange. The El Segundo-based computer-services firm previously had declined to comment on reports it might seek an alternative suitor, or "white knight." The option was disclosed in a government filing detailing the board's unanimous rejection last week of CA's takeover bid. CSC also said it would explore buying another company, divesting units, or fighting to remain independent. The filing reiterated CSC's stance that the CA's offer was inadequate. Islandia, N.Y.-based CA responded by saying it would press on with its takeover attempt.

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